THE BENEFITS OF WOMEN OWNED BUSINESS CERTIFICATION
Certified Women Owned Businesses offer a range of benefits to both the business owners themselves, as well as all those that work with them. From better visibility for the business to enhanced supplier diversity for companies, women owned business certification matters in the current marketplace and will continue to do so for the foreseeable future.
We noticed all of these advantages several years ago and, with them in mind, ITC Global Translations became a certified women’s business enterprise through WBENC (Women’s Business Enterprise National Council). A women’s business enterprise is defined by WBENC as:
“An independent business concern that is at least 51% owned and controlled by one or more women who are U.S. citizens or Legal Resident Aliens; whose business formation and principal place of business are in the U.S. or its territories; and whose management and daily operation is controlled by a woman with industry expertise.”
Although there are several different certifying bodies for women owned businesses, WBENC is one of the most widely recognized certifications in the country. Their process includes an onsite visit, along with an extensive review process run by a trained Certification Review Committee.
BENEFITS OF BEING A CERTIFIED WOMEN OWNED BUSINESS
The number of certified women owned businesses continue to grow steadily each year. Some of the benefits that certified women owned business enterprises get to enjoy include –
- The opportunity to use the WBENC (or other certifying body’s) logo in advertising materials and other unique ways to promote your business and help it stand out especially in male dominated fields.
- A chance to take advantage of government programs geared toward women owned businesses.
- Eligibility for loan programs only available for certified women owned business.
- An opportunity to bid on federal contracts that are open to bids from women owned business enterprises only.
- Selection by a company’s supplier diversity and procurement experts to meet their needs for diversity.
- Networking with other certified women owned businesses throughout the United States.
BENEFITS OF WORKING WITH A CERTIFIED WOMEN OWNED BUSINESS
In addition to the benefits the businesses owners themselves enjoy, there some specific advantages for companies when they choose to contract with women owned businesses. Just a few of the reasons the government and businesses in the private sector choose certified women owned businesses over others include:
- The chance to meet their goals for supplier diversity.
- The opportunity to promote their company or project as supporting women business owners and employees.
- Eligibility for certain jobs or contracts based on their involvement with certified women owned businesses.
Companies who select certified women owned businesses will also enjoy a level of quality and performance not found at other agencies no matter who runs them. A business who makes it through a rigorous certification process like WBENC’s is a business prepared to handle whatever tasks or challenges come up. As a result, they automatically place themselves ahead of the others that haven’t proven themselves in this way.
Certification as a women owned business will never take the place of a solid business model and good old fashioned hard work and quality service. However, given the range of advantages to all parties, becoming a certified women’s business enterprise is a useful tool to have in the tool box you’re using to build a successful business in any specialty.